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daily-market-analysis-capitalstreetfx

Postby Ryan Peterson » Tue Jun 28, 2016 8:17 am

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Ryan Peterson
 
Posts: 7
Joined: Tue Jun 28, 2016 6:35 am

Re: daily-market-analysis-capitalstreetfx

Postby Ryan Peterson » Tue Jun 28, 2016 8:17 am

Daily report on June 28, 2016

On Tuesday, Sterling gained for the first time since Britain’s vote to exit from the European Union, as the recovery in investors’ appetite for higher-yielding assets curbed the demand for US dollar, safe-haven gold and Japanese Yen.

The pound rose against its major counterparts, last trading at $1.3318 after hitting the 30-year low of $1.31129 on Monday. The US dollar index, measuring the strength of the greenback versus the basket of major currencies, dropped for the first time since the record market rout on Friday to 96.07, down 0.32% compared with the last settlement. Whereas, the Yen fell against most of its rivals, trading at 102.063JPY/USD after rocketing to 98.678JPY/USD at high speed.

Asian stocks trimmed their losses today on expectations that policy makers would take actions to stabilize financial markets after Brexit related panic. The MSCI Asia Pacific Index lost 0.4% to 125.23 after being down up to 1.2% earlier. Japan’s Topic index has pared its earlier declines of as much as 2.2% upon speculation that the Bank of Japan (BOJ) could intensify stimulus measures.

Gold reversed into a bearish tone after two days of reigning at the top - as investors sought safe-haven assets following the UK’s unexpected vote to leave the EU. The commodity was trading at $1317.22/oz, down more than 3% from yesterday’s high of $1358.24.

Oil prices inched up in early trading in Asia as a looming strike in Norway is likely to reduce output from Europe's biggest oil producer. Around 755 oil workers could go on strike starting Saturday if a new wage deal is not reached before Friday. US West Texas Immediate crude was trading at $47.19 per barrel, adding 1.15% compared with the last settlement, while Brent crude was up 0.87% to around $48.34 per barrel.

Technicals

EURUSD
EURUSD is currently moving sideways, in a wide range below the 23.6% mark of the Fibonacci retracement from 1.09685 to 1.10827. RSI (14) is up to to 43.32, even though thats not enough to confirm a trend change into an up move. It does however indicate strengthening bullish momentum. The pair is anticipated to fall back after a test of the firm resistance at 1.10714.

Trade suggestion

Sell limit at 1.10714, Stop loss at 1.11205, Take profit at 1.09896

GBPJPY
After testing the three-and-half year low of 133.194 for the second time, the British pound is moving up slightly against the safe-haven Japanese yen. ADX (14) has lowered to 36.4574, combined with shrinking distance between DI- and DI+. This indicates that the sellers are getting exhausted. Longs are encouraged in the short-term .

Trade suggestion

Buy stop at 136.736, Stop loss at 133.993, Take profit at 140.126

USDCAD
The level of 1.31104 is currently acting as firm resistance for prices as the pair failed to close far above this mark for several weeks. RSI (14) is turning downwards from the overbought point, implying that bears may attempt to overshadow the market. The support of 1.29647 is expected to be tested before any rise.

Trade suggestion

Buy limit at 1.29739, Stop loss at 1.29248, Take profit at 1.30345

GOLD
On June 14th, GOLD hit a record high around the 1358 level, as a fallout of the shock from the UK referendum’s results. However, the bull has weakened a little bit as the precious metal is fluctuating in an uncertain fashion since. RSI (14) has managed to escape from overbought territory. However, the price is expected to climb after consolidating for some time, as signaled by the trend indicator and two MA's

Trade suggestion

Buy stop at 1324.36, Stop loss at 1308.89, Take profit at 1344.95

WTI
WTI is extending its rise after hitting a six-week low of 46.04 on Monday. RSI (14) is edging up, but not crossing over the average level yet, indicating that the bear market is still relatively strong. The 28.2% Fibonacci has been a solid resistance lately and is expected to contain the price from surging higher. Short positions for the long-term are encouraged by the trend indicator

Trade suggestion

Sell limit at 47.60, Stop loss at 48.25, Take profit at 46.30

SP500
Creating a very big gap-down from a high of 2112.10 on Friday, the SP 500 is on course to plunge after failing to cover that gap. The two moving averages crossed below the price chart, casting a shadow on the index. The SP500 is expected to continue remaining under pressure from the two SMAs above. It may head down to break through the 38.2% level of Fibonacci retracement. More declines are awaited.

Trade suggestion

Sell stop at 1995.56, Stop loss at 2009.93, Take profit at 1980.31
Ryan Peterson
 
Posts: 7
Joined: Tue Jun 28, 2016 6:35 am

Re: daily-market-analysis-capitalstreetfx

Postby Ryan Peterson » Mon Jul 04, 2016 7:43 am

Daily Report on July 04, 2016

This Monday, July 4th, financial and commodity markets in the US will be closed for the Independence Day holiday. Markets currently are expected to face some significant moves resulting from thin trading action and low volume due to the absence of US traders.

In the Asian trading session, Sterling trimmed its enormous losses against the US dollar from last week. The British pound rose to $1.32987, 0.25% higher than the closing price on Friday.

The survey on inflation expectations conducted by the Bank of Japan showed that Japanese companies expected the consumer prices to increase by an annualized rate of around 0.7%, while this expectation in the previous quarter was at 0.8%. This is a negative signal given that the BOJ’s target is of 2% price growth. For now, the target seems quite difficult to reach. Some additional monetary easing policies are likely to be deployed soon.

Over the past weekend, a new wage deal between employers and workers in Norway was signed, stamping out a strike that might have reduced production in the largest oil producer in Western Europe. As a result, oil prices were down slightly on Monday morning. The global benchmark, Brent slid to $50.46/barrel after closing the trading session on Friday at 50.72/barrel.

Technicals

EURUSD
After hitting the record low in almost four months at 1.09089 , EURUSD is forming an up channel as the euro is recovering from its losses against the USD. A green arrow has formed under the price chart since the 1st of July, signaling longs on the currency pair. ADX (14) also confirms that the up-move is fairly strong. The price is expected to test the solid resistance of 1.11991 before pulling back.
Trade suggestion
Buy stop at 1.11462, Stop loss at 1.11106, Take profit at 1.11888

GBPJPY
The sterling has been moving in an unclear fashion versus the safe-have yen since a while, after plummeting significantly to a four-year low of 133.101. The stochastics chart shows that the %K line and %D line are crawling upwards from the oversold territory, hinting that the bull is stepping in. However, the pair is forecast to consolidate for some time as RSI (14) is still far below the average level.
Trade suggestion
Sell limit at 138.630, Stop loss at 142.768, Take profit at 133.946

USDCAD
Last Monday, the pair reached a peak at 1.31191 per dollar, and then declined to as low as 1.28941. All indicators are showing that the bear is dominant, as RSI (14) is pointing downwards from the average level, not to mention the two MAs are hanging over the price chart. The trend indicator also supports short positions on this pair.
Trade suggestion
Sell stop at 1.28873, Stop loss at 1.29464, Take profit at 1.28363

GOLD
GOLD is retreating after failing to break through the firm resistance of 1357.95. The stochastics chart shows that the precious metal is struggling to get out of the overbought territory after having been in this zone for a period of time. The trend indicator notices a large move-up of 312 pips on this commodity since June 24. The bullish power is anticipated to die down and the price may test the support of 1314.18
Trade suggestion
Sell stop at 1341.93, Stop loss at 1356.80, Take profit at 1325.12

WTI
The two moving averages are getting closer and attempting to cross over the candles, which will create significant downward pressure in the market. The %K line has already reversed, and is likely to confirm a pull back. The commodity is expected to continuously fall from the 61.8% level of Fibonacci retracement.
Trade suggestion
Sell stop at 49.21, Stop loss at 49.90, Take profit at 48.46

FTSE
On June 30th, FTSE broke through its solid resistance of 6430.77 - rising strongly. RSI (14) hovers around the overbought threshold, implying that the bull is still taking the lead in the market. Long positions on this index are encouraged as the trend indicator has created a green arrow under the price chart since last Wednesday.
Trade suggestion
Buy stop at 6599.09, Stop loss at 6538.05, Take profit at 6671.04
Ryan Peterson
 
Posts: 7
Joined: Tue Jun 28, 2016 6:35 am

Re: daily-market-analysis-capitalstreetfx

Postby alwiandesta » Tue Oct 10, 2017 12:12 pm

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